Smart cities: Where's the ROI?

If they are to be judged as successful, smart communities must ensure they deliver a social, economic and environmental benefit, providing a three-dimensional return on investment (ROI).

This is reliant on transformational change – not only in terms of technology but also how cities think and operate. They need to move away from the traditional siloed way of working and foster closer collaboration across key stakeholder groups. This requires both cultural change and modernisation to align towards a common vision for the long-term.

Further, the investments they make in smart city applications must be viewed as part of a multi-purpose platform that enable the bigger picture modernisation initiative: something that is crucial to future smart city plans and achieving the three pillars of smart city success.